Banker's Life on Inside Edition

[Norwayguy]

I did glean one thing from this thread. The next time someone doesn't have their checkbook, I will offer to drive them to their bank
I never thought of that.

Not me, As presented in the video I would want to set up another appointment possibly with daughter. Or if they just said they don't have their check book handy I would set up another appointment. I'm not driving someone to the bank and then setting up the policy on Direct bill because I still don't have a voided check.

 

[sman]

I am not going to defend, but it's 10% per year, not 10% over 9 years. With that said, if it were no more than say 20%-30% of a persons nest egg, I don't see where that's a huge deal. Of course, I prefer much shorter term annuities so in all likelihood I wouldn't have done it regardless of the percentage of the nest egg. I prefer fixed annuities with surrender periods of 5 years or less.

...someone on this board thinks it's an appropriate sale for this lady to have access to 10% until 2019?

 

[HarryRenard]

I am not going to defend, but it's 10% per year, not 10% over 9 years. With that said, if it were no more than say 20%-30% of a persons nest egg, I don't see where that's a huge deal. Of course, I prefer much shorter term annuities so in all likelihood I wouldn't have done it regardless of the percentage of the nest egg. I prefer fixed annuities with surrender periods of 5 years or less.

I agree,
I am NOT afraid to justify the 10%, a spia is not going to provide that much more if any income annually, not to mention she going to loose control of her principal (in most if not all).

So to say that the 10% withdraws aren't enough are as stupid as that A-hole saying that fixed annuities are never suitable for a 73 yr old.
We dont know the whole story and never will but I am positive that just because Inside Edition says its not suitable doesnt mean a darn thing. The tactics SUCK but that doesnt mean that any of the products aren't suitable for any of "the 1000's of seniors they contact a day".

She wanted that money to supplement her income andthe point is that 10% withdraws can do that, just like a spia can too.

 

[padthaiforlunch]

Lesson is to never sell your mother a BLC annuity.

 

[Crabcake Johnny]

I wonder if everyone would go nuts if she put her money in a five year CD or invested in mutual funds that's lost half their value.

 

[jemelton]

I wonder if everyone would go nuts if she put her money in a five year CD or invested in mutual funds that's lost half their value.

We would have to ask the "consumer advocate" That's what I'm going to be calling myself attempting to set appointments....I'm a "consumer advocate" specializing in lowering insurance premiums.

 

[CHUMPS FROM OXFORD]

Not that it makes a difference, but this was broadcasted last week on another program.

 

[VolAgent]

You would be amazed how much content is recycled to produce another, similiar show on a different channel.

 

[Newby]

This is typical of what I have seen comming out of that company.
It always amazes me when someone falls for abusive crap like that.

 

[G.Gordon]

Exactly!! It's not ONE office. If it is... then they got that video from the Kansas City folks. I've found folks around here stuck in BLC annuities and over priced medsupps. They'll even go so low to make a sale they'll sell someone a HdF at a lower premium then sell them a ONE year $80/day LTC policy.

They are scum for the most part.